Renaissance Group LLC cut its holdings in Sony Corporation (NYSE:SONY – Free Report) by 8.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 266,623 shares of the company’s stock after selling 25,466 shares during the quarter. Renaissance Group LLC’s holdings in Sony were worth $6,826,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of the business. West Family Investments Inc. grew its position in shares of Sony by 1.1% in the third quarter. West Family Investments Inc. now owns 34,228 shares of the company’s stock valued at $985,000 after purchasing an additional 385 shares during the last quarter. Baker Tilly Wealth Management LLC grew its position in shares of Sony by 3.6% in the fourth quarter. Baker Tilly Wealth Management LLC now owns 11,655 shares of the company’s stock valued at $298,000 after purchasing an additional 409 shares during the last quarter. Glenmede Investment Management LP grew its position in shares of Sony by 1.0% in the third quarter. Glenmede Investment Management LP now owns 42,478 shares of the company’s stock valued at $1,223,000 after purchasing an additional 416 shares during the last quarter. Mitchell & Pahl Private Wealth LLC grew its position in shares of Sony by 1.1% in the fourth quarter. Mitchell & Pahl Private Wealth LLC now owns 40,335 shares of the company’s stock valued at $1,033,000 after purchasing an additional 433 shares during the last quarter. Finally, Binnacle Investments Inc grew its position in shares of Sony by 81.7% in the third quarter. Binnacle Investments Inc now owns 1,032 shares of the company’s stock valued at $30,000 after purchasing an additional 464 shares during the last quarter. 14.05% of the stock is currently owned by institutional investors and hedge funds.
Sony Stock Performance
Shares of SONY opened at $20.78 on Thursday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.94 and a current ratio of 1.18. The company has a market capitalization of $123.60 billion, a price-to-earnings ratio of -103.87, a PEG ratio of 1.70 and a beta of 0.93. Sony Corporation has a 1 year low of $19.63 and a 1 year high of $30.34. The company’s 50 day simple moving average is $21.40 and its 200 day simple moving average is $23.07.
Wall Street Analyst Weigh In
Several research firms have recently commented on SONY. Benchmark reiterated a “buy” rating on shares of Sony in a research report on Monday, May 11th. Sanford C. Bernstein reissued a “market perform” rating and set a $22.00 price objective (down from $30.00) on shares of Sony in a research note on Tuesday, March 17th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Sony in a research note on Wednesday, May 20th. Four analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $22.00.
Check Out Our Latest Report on SONY
Insider Buying and Selling
In other Sony news, Director Kenichiro Yoshida sold 400,000 shares of the stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $22.61, for a total transaction of $9,044,000.00. Following the transaction, the director owned 661,615 shares of the company’s stock, valued at $14,959,115.15. This trade represents a 37.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Tsuyoshi Kodera sold 17,500 shares of the stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $22.61, for a total transaction of $395,675.00. Following the transaction, the insider directly owned 27,553 shares in the company, valued at approximately $622,973.33. This represents a 38.84% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 7.00% of the company’s stock.
Key Headlines Impacting Sony
Here are the key news stories impacting Sony this week:
- Positive Sentiment: Sony Electronics expanded its professional display lineup with a new 135-inch Crystal LED UNIFY system, highlighting continued investment in higher-end commercial AV products that could support revenue growth. Sony Electronics Expands Professional Display Lineup with Crystal LED UNIFY, a 135-inch All-in-One Direct View Option
- Positive Sentiment: Sony Semiconductor Solutions announced a new X-ray CMOS sensor with industry-leading imaging and low-noise performance, reinforcing Sony’s strength in imaging and sensor technology. Sony Semiconductor Solutions to Release X-ray CMOS Sensor with Industry’s Fastest Imaging and Low-Noise Performance
- Positive Sentiment: Media coverage of Sony’s products, including early Prime Day TV and headphone deals, may help stimulate consumer demand for Sony’s audio and entertainment hardware. Best Buy Is Selling Sony’s Popular Noise-Canceling Headphones for Only $100
- Positive Sentiment: Zacks highlighted Sony as one of the audio-video stocks to watch, saying industry participants may benefit from investment in cutting-edge solutions despite macro headwinds. 3 Audio Video Stocks to Watch as Industry Witnesses Headwinds
- Neutral Sentiment: Sony is getting product-review and marketing attention for its new surround system and 135-inch display, which supports brand visibility but does not directly change fundamentals. I tried Sony’s new surround system – it asks big questions of Samsung and LG
- Neutral Sentiment: Sony Pictures Television promoted Devon Hammonds to head of nonfiction, a routine management move with limited immediate stock impact. Sony Pictures Television Promotes Devon Hammonds To Head Of Nonfiction
- Negative Sentiment: Sony’s planned Helldivers movie lost Jason Momoa as its lead, creating uncertainty around a high-profile film project and adding a small negative overhang for the entertainment segment. Jason Momoa Exits Justin Lin-Directed Sony Feature ‘Helldivers’
About Sony
Sony Group Corporation (NYSE: SONY) is a Japanese multinational conglomerate headquartered in Minato, Tokyo. Founded in 1946 by Masaru Ibuka and Akio Morita, Sony has grown from an electronics maker into a diversified global company with operations spanning consumer electronics, entertainment, gaming, semiconductors and financial services. The company’s shares trade in Japan and its American Depositary Receipts trade on the New York Stock Exchange under the ticker SONY.
Sony’s primary businesses include Electronics Products & Solutions, which covers televisions, audio equipment, digital cameras and professional broadcast systems; Game & Network Services, anchored by the PlayStation platform, consoles, software and online services; Music and Pictures, through Sony Music Entertainment and Sony Pictures Entertainment, producing, distributing and licensing recorded music, film and television content; Imaging & Sensing Solutions, which develops CMOS image sensors and other semiconductor components; and Financial Services, offering life insurance, banking and other financial products in Japan.
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